Understanding Mortgage Rates.
Many things affect a mortgage rate, including credit, down payment, loan type and the market. Rates also move over time. The national averages below offer a snapshot of the market. A loan officer can then talk with you about your situation.
National Averages, Not a Quote.
The figures below come from independent third-party surveys. They are a useful picture of the broader market. They are not Trust Home Financial quotes and not an offer to lend.
Mortgage News Daily Index
National averages from Mortgage News Daily's rate index, updated on business days.
Freddie Mac Weekly Survey.
The chart below shows Freddie Mac's weekly 30-year national average, as published by the Federal Reserve Bank of St. Louis (FRED). It is a longer-term picture of the market, not a same-day quote.
FRED® Graphs © Federal Reserve Bank of St. Louis. 2026. All rights reserved. All FRED® Graphs appear courtesy of Federal Reserve Bank of St. Louis. https://fred.stlouisfed.org/ Source: Freddie Mac, Primary Mortgage Market Survey® (MORTGAGE30US). Weekly national averages. These are not Trust Home Financial quotes and not an offer to lend. Freddie Mac's weekly survey
What Affects Your Rate.
The rate available on a loan is personal. It depends on credit, the size of the down payment or available equity, the loan type, the property, how the home will be used, the lock period, and whether points or a lender credit are part of the pricing. A national average usually assumes a strong credit profile and a solid down payment, so many borrowers will see a different figure.
Credit, Down Payment and Equity
Pricing depends on the borrower's credit profile and the size of the down payment or available equity. Those two factors are among the first things a wholesale lender looks at when pricing a loan.
Loan Type, Property and Occupancy
The loan type matters, as do the property and how the home will be used. Government-backed programs (FHA, VA and USDA) use different pricing rules than conventional loans. A purchase, a refinance and a home-equity loan can be priced differently too.
Points
Discount points are an upfront cost paid to lower the interest rate. A lender credit works in the other direction: a higher rate in exchange for help with closing costs. Whether points make sense depends on how long the borrower expects to keep the loan. A loan officer can run that comparison.
Rate Locks
A lock holds a quoted rate for a set period while the loan is in process. Lock periods vary. If the market improves after a lock, the original rate generally still applies unless a float-down option was part of the lock. Those options have rules and may not be available. If the market worsens and the rate was not locked, the quote can change. Locking early or later both have tradeoffs. This is a conversation with the loan officer, not a race.
The interest rate is the cost of borrowing the principal. The annual percentage rate, or APR, also reflects certain upfront costs, which is why APR is the figure used in required disclosures and is often higher than the interest rate. When comparing offers, compare APR to APR, and make sure the loan type and points are similar.
What Moves Rates Nationally.
Mortgage pricing also moves with the broader market. Investors buy and sell mortgage-backed securities in the bond market, and that market sets a baseline for wholesale pricing. Inflation, jobs data and Federal Reserve policy affect bond yields, especially the 10-year Treasury, which in turn influences mortgage pricing. Housing demand, investor appetite and world events can move markets too. A change in a government rate is not an automatic, same-size change in mortgage rates.
How a Mortgage Broker Shops the Market.
Mortgage rates are not a single number a bank posts for everyone. Across the country, wholesale lenders set pricing from the bond market, mortgage-backed securities, their own costs and credit-risk adjustments. That pricing changes as the national market moves.
A mortgage broker monitors that national market of wholesale lenders and shops it for the individual borrower. Trust Home Financial matches the borrower's situation — credit, down payment or equity, loan type, property and occupancy — with wholesale options that fit. A national average is a useful snapshot of the market. It is not a personal quote. A loan officer can then talk with you about your situation.
Let's Talk Through Your Options.
When you are ready to see what may be available for your situation, start an application or call us. We are happy to walk you through your options.